PrimeXBT is one of the fastest growing trading platforms in the entire finance industry, and for good reason. The company is always innovating and releasing new products, and the latest development and launch might help hasten growth even further by increasing engagement, enjoyment, and the overall experience of the already award-winning platform.
Here is an introduction to the all newPrimeXBT contests module and with it, the debut of PrimeXBT’s first ever global trading competition with a prize pool of up to $100,000.
What Is ThePrimeXBT Margin Trading Platform?
PrimeXBT is first and foremost and award-winning margin trading platform that offers forex, crypto, commodities, stock indices, and more all from one single account. This lets traders build a diverse portfolio of digital and traditional assets and ensures no opportunities are left behind.
The diversity doesn’t stop there, however. PrimeXBT is also home to a variety of unique and innovative solutions that are designed to provide traders and investors with alternatives to traditional trading and with it, increase profitability and usability of the platform.
Innovative Solutions Around Ever Turn, Under One Roof
These innovative solutions include an analysis module with built-in charting tools from TradingView, Covesting copy trading software, Covesting yield accounts, and soon, an all new Contests module.
Before we dig into why Contests is such a big deal, to put things into perspective, we’ll first review the presently released modules on PrimeXBT.
Technical Analysis Tools Built-In
To start, the technical analysis tools included from TradingView are essentially the crypto industry standard. While traditional finance might rely on Bloomberg Terminal or Optuma for their analysis, crypto traders prefer the ease of use and customization of TradingView’s tools.
Traders can draw trend lines, plot support and resistance, project Fibonacci extensions, or launch more than 50 technical indicators and oscillators for any of the platform’s included assets.
Company Blog And Help Center
A massive help center and official company blog is also offered. There, the company shares details to the latest launches, which is where we discovered the first information regarding the all new Contests module we’ll get to shortly.
The blog includes guides that explain “what is short selling” or “how to long Bitcoin” in addition to trading tips, recommendations, market reports, and much more.
Covesting Copy Trading Module
The Covesting copy trading module is next on the list, but is perhaps the most recognizable of all the modules offered by PrimeXBT. Covesting copy trading isn’t like social trading, which involves following traders online and mimicking their trades. With copy trading, the module connects followers and strategy managers together in a transparent way.
Strategy managers create a special type of trading account where the performance is tracked within a global leaderboard system. Followers can use risk and success metrics and other performance data to decide which strategy managers they would like to follow, and which they expect the most performance from.
Covesting Yield Accounts
Released only a couple months ago, Covesting yield accounts were yet another module to be introduced on PrimeXBT. This new development from the Covesting team, brought the yield-generating tool to the award-winning PrimeXBT through continued B2B partnership.
Covesting yield accounts allow users to connect directly to popular DeFidapps right from within the PrimeXBT account dashboard, and stake idle crypto assets and earn variable rate rewards in the form of an APY. APYs reach as high as 10%.
My COV Token Utilities
These experiences are tied together by the My COV module, which contains all of the information related to current COV utility token tokenomics, including burn rate, current supply, current price, and more. This is also the section where users would activate COV token membership tiers, which activate the full utilities of the COV token.
Utilities include an increase in profit share for followers, a trading fee discount for strategy managers, up to a 2x boost in Covesting yield accounts, and much more.
New Contest Module Introduced
Despite all of the profitability that is possible with the several other modules located on PrimeXBT, the newest module, might be the most fun and exciting yet. The all new module is called Contests, and will feature regular trading competitions between all types of users.
New users can try trading risk-free and learn how to navigate markets in real-time, all while being given the opportunity to win up to $100,000 in prizes. Pro traders can demonstrate their skills to the world, all while upping the ante with fun high stakes prizes. Prizes will be awarded weekly and monthly, with competitions brewing of all kinds.
Global Trading Competition Announced
To kick off the all new Contests module, PrimeXBT has also revealed the first ever Global Trading Competition. More information is available on the official PrimeXBT blog. The first competition is designed for newbies, to help to gently show these investors and traders the ropes in a positive setting.
The module will also allow partners to create branded competitions where they can engage with the Covesting user base and attract new audiences to trading.
Making Markets More Enjoyable
Traders are a competitive breed by nature and genuinely have fun competing. By adding in a potential prize pool and eliminating risk from the equation, the new Contests module will attract more users to PrimeXBT than ever before.
Global markets can be a stressful venture at times, and the Contests module makes diving in with the other sharks and whales a lot more enjoyable, engaging, and exciting. PrimeXBT has plans to grow their user base dramatically using the social-driven tool.
PrimeXBT: A Trading Platform For Everyone
The Contests module is also yet another example of the company’s client-focused approach. Only with PrimeXBT do all users receive a dedicated account manager for a fully personalized experience start to finish.
In addition to these exciting new ways to engage, there’s never a dull moment when going long or short across 50 different trading instruments using the powerful and advanced tools offered by the award-winning margin trading platform.